Units-of-Output Depreciation Equipment acquired at a cost of $90,000 has an estimated residual value of $4,500, has an estimated useful life of 30,000 hours, and was operated 2,100 hours during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The Depreciable Cost (b) The Depreciation Rate (c) The Units-of-Production Depreciation for the Year \begin{tabular}{ll} $ & x \\ $ & x per hour \\ $ & x \end{tabular} Feedback Check My Work Depreciable cost is the difference between the asset's initial cost and its residual value. The residual value is the estimated value at the end of the useful life. Annual units-of-production depreciation allocates the cost of the asset equally over the expected productive capacity. Learning Objective 2